Member Info for johnpwh

Thanks for the link 'r'. I have subscribed to Crux, but didn't see this.
Interesting he said he has to talk to BCN now - the RK interview is dated today, the interview with PS was 3 days ago. Another interview so soon? In the interview 3 days ago he said it was the first with BCN since July 2020? Suspect they have been published out of sequence maybe.

The royalty case stems from the claims from the estate of the guy who I believe founded Bacanora. He made claims of this 3% royalty which Bacanora in its current guise say is unfounded (think they are diplomatic enough to avoid the use of the word fraudulent). The current court case is about whether challenging the claim is time barred, assuming BCN pass this hurdle then they will subsequently challenge the validity of the claim.
Foz
You seem unhappy. Lets get down the pub as soon as lockdown lifts and get thoroughly antisocial!

Foz, I don't really want to comment on as I'm not really qualified to do so. What companies have had problems in Mexico? If you'll pardon the pun but we might be caught between a rock and a hard place. We have costs of $4000 a ton - what would those costs be in North America? What will they be in Europe? I once held shares in what appeared to be a nice little copper mining operation in Canada on the East Coast. Its still going. Just. After placing followed by placing followed by placing. Big reserves, they even had their own deep water port to ship the ore from. To date they've not made a penny, because their costs are too high due to the jurisdiction they operate in. All the shareholders are doing is pay the wages for people who seem to have a job for life!

Clearly doesn't affect the viability of the project but obviously conceivably affects the BCN bottom line by a few %. I suggest we just park this at the moment, none of us really understand it, it affects only part of the asset and I for one don't even know if it is the area due to be mined initially. Lets just await future company statements?

*not* to agonise. I wish it was possible to edit posts, would help people like me who have clumsy fingers

That was an excellent spot Zarro. Its probably wise to agonise over the detail at present as it may well be thrown out, but it did cross my mind whether the liability, if there is one, falls solely on BCN or on SLL. If the latter the effect would be diluted by 50%.

$10000! My old Cayman wasn't that much more than that!
Will be a good day tomorrow. Can feel it in my bones....

I assume that the announced offtake agreements with Ganfeng and Hanwa are for 50% each of the entire production in the first 10 years, not of the initial production rate? If so there are no further worries about sales until 2033 if the current timetable is adhered to. Its quite a comfortable position to be in,

Thanks Jim, didn't know you could append that to a Youtube address to drop into a particular part of the vid. Old dogs new tricks, I've learned something!

My commiserations Mick, I have been there (not with NMX I admit) with another 'dead cert', I feel your pain.
I can't see dividends here for 4 years or more (pure guess), we wont produce for 2 and then we are all hoping that production increase will be the next call on any surplus cash available. That, of course, should not prevent hopefully a large increase in SP as it becomes clear that this will be a success.

Hi Mick, no offence taken (by me at least).
I don't know how long you have been following BCN but the interview really was a reiteration of all recent RNS, presentations and interviews, there was nothing much new. We are a bunch of sad old gits who don't get out much and read all we can about Bacanora. I think its fair to say that pretty much all of us LTHs continue to support the company but have reservations about the the dilution and possibly the current SP being a direct result of the discount given. As for control BCN has 50% of SLL, Ganfeng the other 50% . Taking into account the near 29% (28.8?) shareholding that Ganfeng will probably hold in BCN going forward, and the BOD representation that they have at both SLL and BCN, Ganfeng now have over 64% control of the asset (directly and indirectly). Hence questioning who is now in control here.
The first (long) comment on the Youtube Crux interview makes interesting points.
John

Hi Beevorma
Maybe I need to listen a third time! I heard him say that both could be produced but couldn't decide if that meant concurrently, so six of one and half a dozen of the other. It probably doesn't matter too much, just interested in knowing what the flexibility was.
I took away that we are in AIM until production is well established , so maybe 3 years until Main Market. I have been in several AIM shares, inevitably this question arises - I cant remember offhand it ever taking place!

No, don't think the paper profit would run to that at the moment.
I have a fairly early Porsche Cayman, and it is the worst car I have ever had.......in the sense that I know now I will always need a Porsche in my life! have always been a bit of a petrolhead (oh the irony being a BCN shareholder). I cycle a lot and had a nasty accident just before Christmas, just looking to get back into cycling but am suffering a lack of confidence at the moment.
Just re-watched the Crux interview. Am impressed with him as interviewer. Does anyone know whether Sonora is being designed to supply both carbonate and hydroxide concurrently or whether if is one or the other?

Hi Mick
It always surprises me the variation of the boards on lse. You get the tiniest minnow with 100 posts a day, 500 if there is an RNS out, and behemoth companies worth billions with one post every 6 months. Some boards I find very unpleasant and have stopped posting - which irks me in a way as then they've won.
But from what I have seen in the past few months ( I have been a shareholder for a year but a prospective very LTH) everyone is welcome here. Call us soppy liberals. Really hope to hear your views in future, maybe I am just a bit jaded after the SP action over the past few weeks - but yes, that should be countered by being fully funded , works on site started and demand for the product being increasingly assured.
Enjoy Sunday chaps and chapesses

Because posters on this board feel free to discuss the ins and outs of all aspects of this company. If the posters are restricted to solely positive hype then what is the point of a board like this? And how fair is it to new readers who seek objective commentary?
I could name other boards on lse which are closed shops to 'newbies' (as they call them) and who actively discourage anything other than ramping and posts by the established crowd. I personally like this board because it is nothing like that.

Sorry, am aware I just came across a bit negative.
Probably because I used to have a holding of X shares and a paper profit enough to buy a half decent second hand Porsche. Now I have a holding of 2X and enough profit to buy a bike from Halfords!

Watched it through once briefly, but will revisit. I have always given PS the benefit of the doubt, unlike some. I do get the impression (I stress, on one quick view) that this isn't an interview with the engine driver anymore. That would be a representative of Ganfeng. Not too impressed by the politicians replies about funding, I don't think it was grossly mishandled, but was mishandled to an extent. Why justify against the SP one year ago at the height of the epidemic when there were ample times prior to that when the SP was far higher?
The retail offer was pulled prematurely (£3m rather than £8 from memory) because the placing was filled spectacularly quickly (and the retail offer announced after close of business while well adjected PIs were drinking their G&Ts) - how does that not imply the underpricing of the issue and hence probably unnecessary dilution? And as for the excuse that the price rewarded long term holders in some way - give me strength.
I'm not knocking this as an investment and still plan to remain a LTH with a undiminished holding. However that is mainly because BCNs main asset is at the right stage of development, at the right place, at the right time given what is happening in the technology and politics worldwide. I am not all that enamoured with BCNs stewardship or the service it is giving its PIs, so find myself relying somewhat on the abilities and drive of Ganfeng whose prime concern is their own shareholders not me!

Next January I will have my digit poised over the sell button!
Have a good weekend all,

It will be fine Mr.C. We'll laugh about this one day...........

I see Lithium Americas is down 45% from its January peak